Slam Corp. (NASDAQ:SLAM) Sees Significant Growth in Short Interest

Slam Corp. (NASDAQ:SLAM) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,700 shares, a growth of 750.0% from the February 29th total of 200 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 33,700 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Slam

Several institutional investors have recently modified their holdings of SLAM. AQR Arbitrage LLC bought a new stake in Slam in the third quarter valued at approximately $2,695,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Slam by 25.4% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 228,350 shares of the company’s stock worth $2,462,000 after acquiring an additional 46,200 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Slam by 32.1% during the third quarter. Gabelli Funds LLC now owns 221,219 shares of the company’s stock worth $2,385,000 after purchasing an additional 53,800 shares during the period. Westchester Capital Management LLC increased its stake in Slam by 2.8% during the 3rd quarter. Westchester Capital Management LLC now owns 2,528,789 shares of the company’s stock worth $27,260,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Cowen AND Company LLC lifted its stake in Slam by 95.6% in the third quarter. Cowen AND Company LLC now owns 1,860,843 shares of the company’s stock valued at $20,060,000 after buying an additional 909,440 shares in the last quarter. 87.25% of the stock is currently owned by institutional investors and hedge funds.

Slam Stock Performance

Shares of NASDAQ SLAM remained flat at $10.98 during mid-day trading on Thursday. 2,007 shares of the stock traded hands, compared to its average volume of 43,721. The company has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $10.86. Slam has a one year low of $10.30 and a one year high of $11.15.

Slam Company Profile

Slam Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities. Slam Corp. was incorporated in 2020 and is based in New York, New York.